Alibaba revenue tops as online sales surge during lockdown
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(Reuters) - China's Alibaba Group Holding Ltd reported a better-than-expected quarterly revenue on Friday, as the COVID-19 lockdowns drove more people to shop online for essentials.Revenue rose to 114.31 billion yuan (£13.16 billion) in the fourth quarter ended March 31 from about 93.50 billion yuan, a year earlier. Analysts had expected revenue of 107.04 billion yuan, according to IBES data from Refinitiv.